Sekyere Rural Bank makes giant strides

The Sekyere Rural Bank has made giant strides in spite of the Economic and Business Environment challenges in the first quarter of 2022.

The bank recorded impressive performance in all the key financial indicators as Deposit  hit-GHS126,840,132, Loans and advances – GHS45,675,697, Investment – GHS68,765,948, Total assets – GHS145,013,316, Share Capital – GHS2,240,178, Profit/loss before tax – GHS1,527,458 and Shareholders fund – GHS6,927,563.

Dr. Francis Denteh, the Chairman of the Board of Directors who disclosed this at the 34th Annual General Meeting of the Bank said the Bank, like other industries, suffered significant challenges like poor loan asset performance, reduction in lending rates, extended credit periods, high operating cost, but the Sekyere Rural Bank remained resilient throughout the period.

Dr. Denteh stated that, the Bank will continue to pursue strategies that would continue to drive the performance of the bank towards achievement of the vision of becoming the Rural Bank of choice in Ghana.

He indicated that, with the support of the shareholders, the bank hopes to achieve significant successes, despite the highly competitive banking industry in which they operate.

He disclosed that Technology and digitalization had become a critical success factor in modern banking, hence the Board’s resolve to adopt more technologically efficient and effective and offer unequalled services to their cherished customers and shareholders which led to Sekyere Rural Bank PLC being crowned best in terms of digitalization.

He said the Board of Directors would give significant attention to good corporate governance, effective risk management practices, advanced compliance programmes and excellence in customer service.

Mr. Michael Aidoo, the Chief Executive Officer of the Bank, revealed that they have strengthened their IT system to deliver their financial services through efficient IT system and introduce mobile banking App to enroll customers on.

He disclosed that they are bringing on board agencies at various strategic locations far away from their branches to ensure that customers anywhere can transact business with the bank.

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